THN 911: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
THN 911
Largest movements
- Cash +€32,686
up €32,686 (+18.1%), from €181,054 to €213,740
mainly Net result for the year (+€140,480) and Depreciation (+€41,861)
- Receivables within one year +€25,863
up €25,863 (+93.2%), from €27,759 to €53,621
of which Other amounts receivable: +€13,612
- Tangible fixed assets -€15,127
down €15,127 (-2.1%), from €736,606 to €721,479
of which Land and buildings: -€13,714
- Profit (loss) carried forward +€80,480
up €80,480 (+33.3%), from €241,931 to €322,411
- Debts after one year -€46,550
down €46,550 (-11.7%), from €399,259 to €352,709
- Trade debts +€25,772
up €25,772 (+174%), from €14,844 to €40,616
- Other debts -€19,181
down €19,181 (-12.1%), from €158,659 to €139,478
- Tax, wage and social debts -€12,354
down €12,354 (-17.9%), from €69,033 to €56,679
of which Taxes: -€13,396
- Gross operating margin +€49,784
up €49,784 (+18.9%), from €262,711 to €312,494
- Taxes +€11,790
up €11,790 (+32.8%), from €35,923 to €47,713
- Staff costs +€9,471
up €9,471 (+24.4%), from €38,780 to €48,251
- Other operating charges +€7,454
up €7,454 (+116%), from €6,434 to €13,887
- Write-downs -€6,629
down €6,629, from €4,235 to -€2,394
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €950,184 | €990,156 | +€39,972 | +4.2% |
| Fixed assets | 21/28 | €737,285 | €721,817 | -€15,468 | -2.1% |
| Intangible fixed assets | 21 | €678 | €337 | -€341 | -50.3% |
| Tangible fixed assets | 22/27 | €736,606 | €721,479 | -€15,127 | -2.1% |
| Land and buildings | 22 | €620,162 | €606,448 | -€13,714 | -2.2% |
| Plant, machinery and equipment | 23 | €31,020 | €31,122 | +€103 | +0.3% |
| Furniture and vehicles | 24 | €31,784 | €33,185 | +€1,401 | +4.4% |
| Other tangible fixed assets | 26 | €53,641 | €50,724 | -€2,917 | -5.4% |
| Current assets | 29/58 | €212,900 | €268,339 | +€55,440 | +26.0% |
| Amounts receivable within one year | 40/41 | €27,759 | €53,621 | +€25,863 | +93.2% |
| Trade receivables | 40 | €21,340 | €33,591 | +€12,250 | +57.4% |
| Other amounts receivable | 41 | €6,418 | €20,031 | +€13,612 | +212% |
| Cash at bank and in hand | 54/58 | €181,054 | €213,740 | +€32,686 | +18.1% |
| Deferred charges and accrued income | 490/1 | €4,087 | €978 | -€3,109 | -76.1% |
| Total equity and liabilities | 10/49 | €950,184 | €990,156 | +€39,972 | +4.2% |
| Equity | 10/15 | €262,391 | €342,871 | +€80,480 | +30.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €241,931 | €322,411 | +€80,480 | +33.3% |
| Amounts payable | 17/49 | €687,793 | €647,285 | -€40,508 | -5.9% |
| Amounts payable after more than one year | 17 | €399,259 | €352,709 | -€46,550 | -11.7% |
| Financial debts | 170/4 | €399,259 | €352,709 | -€46,550 | -11.7% |
| Amounts payable within one year | 42/48 | €287,071 | €294,575 | +€7,505 | +2.6% |
| Current portion of amounts payable after more than one year | 42 | €44,534 | €46,550 | +€2,015 | +4.5% |
| Financial debts | 43 | - | €11,252 | +€11,252 | |
| Credit institutions | 430/8 | - | €11,252 | +€11,252 | |
| Trade debts | 44 | €14,844 | €40,616 | +€25,772 | +174% |
| Suppliers | 440/4 | €14,844 | €40,616 | +€25,772 | +174% |
| Taxes, remuneration and social security | 45 | €69,033 | €56,679 | -€12,354 | -17.9% |
| Taxes | 450/3 | €65,797 | €52,401 | -€13,396 | -20.4% |
| Remuneration and social security | 454/9 | €3,237 | €4,279 | +€1,042 | +32.2% |
| Other amounts payable | 47/48 | €158,659 | €139,478 | -€19,181 | -12.1% |
| Accrued charges and deferred income | 492/3 | €1,463 | - | -€1,463 | |
| Remuneration, social security and pensions | 62 | €38,780 | €48,251 | +€9,471 | +24.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,233 | €41,861 | +€5,628 | +15.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,235 | -€2,394 | -€6,629 | |
| Other operating charges | 640/8 | €6,434 | €13,887 | +€7,454 | +116% |
| Non-recurring operating charges | 66A | €10,558 | - | -€10,558 | |
| Gross operating margin | 9900 | €262,711 | €312,494 | +€49,784 | +18.9% |
| Operating profit (loss) | 9901 | €166,471 | €210,888 | +€44,417 | +26.7% |
| Financial income | 75/76B | €15 | €15 | +€0 | +0.3% |
| Recurring financial income | 75 | €15 | €15 | +€0 | +0.3% |
| Financial charges | 65/66B | €23,933 | €22,711 | -€1,222 | -5.1% |
| Recurring financial charges | 65 | €23,933 | €22,711 | -€1,222 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €142,553 | €188,192 | +€45,639 | +32.0% |
| Income taxes | 67/77 | €35,923 | €47,713 | +€11,790 | +32.8% |
| Profit (loss) for the period | 9904 | €106,630 | €140,480 | +€33,849 | +31.7% |
| Profit (loss) for the period to be appropriated | 9905 | €106,630 | €140,480 | +€33,849 | +31.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.